April 11, 2014 / 10:00 AM / 4 years ago

Deals of the day- Mergers and acquisitions

(Adds Societe Generale, AutoNavi Holdings)

April 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Chinese digital mapping and navigation firm AutoNavi Holdings Ltd agreed to be acquired by e-commerce firm Alibaba Group Holding Ltd IPO-ALIB.N in a deal valuing the company at about $1.5 billion.

** Patent buyer Intellectual Ventures has persuaded Microsoft Corp and Sony Corp to invest in its latest acquisition fund while Apple Inc and Intel Corp , which invested with Intellectual Ventures previously, declined to participate, according to people briefed on the fundraising.

** Societe Generale, France’s second-largest bank, has increased its stake in Russian subsidiary Rosbank, which it said was part of a long-term commitment to Russia. The deal comes as Russia’s economy is under pressure partly as a result of sanctions imposed by the United States and Europe to protest against Moscow’s annexation of Crimea.

** A buyout offer from India’s billionaire Ruia family for Essar Energy Plc “materially undervalued” the company and its prospects, an independent committee set up to examine the offer said for a third time.

** A small Australian exploration company said it had secured more than $6 billion in equity funding from unnamed investors to build a port and rail network to revive plans for a second iron ore export zone in the country. Padbury Mining said it was obtaining the funds from private Australian equity investors, who required anonymity, with an initial $470 million due in 40-45 days.

** Bank of Queensland Ltd said it would buy the professional finance and leasing arm of South African-owned Investec’s Australian unit for A$440 million ($414 million), aiming to boost credit quality and diversify outside its home state.

** U.S. tax preparer H&R Block Inc said on Thursday it would sell its bank unit to BofI Federal Bank, freeing the company from Federal Reserve oversight.

** Petrolimex Bank, owned by Vietnam’s top oil product importer and distributor Petrolimex, said it had received a takeover offer from VietinBank.

** Britain’s Vodafone said it had taken full ownership of Vodafone India by buying the 11 percent it did not already own from Piramal Enterprises Ltd.

** Austria’s part-nationalized Volksbanken AG said on Friday that it had sold its Volksbank Malta unit to Mediterranean Bank. Volksbanken did not give financial details.

** The prospect of Etihad Airways buying nearly half of Alitalia has significantly increased after a meeting between Etihad’s boss and Italy’s prime minister, and disagreements over job cuts may be overcome, said a source with knowledge of the talks. ($1 = 1.06 Australian dollars) ($1 = 0.60 British pounds) ($1 = 0.72 euros) (Compiled by Sneha Banerjee in Bangalore)

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